Cash App customers that were impacted by data breaches and misappropriation of account information have a chance to recover some expenses, up to $2,500, as part of a $15 million settlement. The first data breach occurred in April 2022, and the second took place in October 2023. Cash App Investing denies any liability or wrongdoing of any kind associated with the claims in the lawsuit
The plaintiffs to the class action suit allege that Cash App Investing was negligent and breached other obligations to users when a former Cash App employee accessed account data without permission in 2022. In 2023, an unauthorized user accessed certain Cash App accounts using recycled phone numbers that were linked to the accounts.
According to the class action lawsuit, the former employee's actions and access to customer information resulted in 8.2 million Cash App customers' sensitive personal information being published online.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
You can only submit one claim per person, even if you have multiple Cash App Accounts. If you do have multiple Cash App Accounts, be prepared to list all of your $Cashtags on the claim form.
Who is eligible to file a claim for the settlement?
Those eligible to file for the settlement include current or former Cash App or Cash App Investing customers who used the app between Aug. 23, 2018 and Aug. 20, 2024, and suspect:
- Their Cash App account was accessed by an unauthorized entity
- There were fraudulent transactions on their account
- That a Cash App error resolution was inadequate
- That they saw sensitive personal information swiped via Cash App
How to submit a claim
To file a valid claim, Cash App users can submit a completed form by Nov. 18, 2024 for consideration. Users that were mailed or emailed a notice need to enter either a notice ID and confirmation code. You can still file a claim if you haven't received any notice by filling out this form.
The quickest way to submit a claim is online at cashappsecuritysettlement.com. Forms can also be submitted through the mail. You can print a form from the Settlement website and mail it to the Claims Administrator at the address on the form. Claim Forms are also available by calling 1-866-615-9740 or by writing to: Cash App Security Settlement Administrator 1650 Arch Street, Suite 2210 Philadelphia, PA 19103.
Expenses you can recover
Ultimately, settlement amounts will be determined by how many people file valid claims by the deadline. The maximum amount you can recover is $2,500. There are three classes of expenses eligible for reimbursement; out-of-pocket, lost time and transactional losses.
You'll need to provide third-party documentation showing what transactional losses occurred and any steps taken to report it. You can submit evidence of correspondence with Cash App relating to the incident, a police report, a report with your bank or credit union, or a report to the FTC or other government agency.
| Type of loss | Maximum amount allowed | Costs associated with: |
|---|---|---|
| Out-of-pocket losses | $2,500 | credit monitoring or identity theft insurance, requesting a credit report, credit freeze, |
| Row 1 - Cell 0 | Row 1 - Cell 1 | canceling a payment card and/or obtaining a replacement payment card |
| Row 2 - Cell 0 | Row 2 - Cell 1 | closing a bank account and/or opening a new bank account |
| Row 3 - Cell 0 | Row 3 - Cell 1 | unrefunded overdraft and/or overdraft protection fees, late and/or missed payment fees and/or charges |
| Row 4 - Cell 0 | Row 4 - Cell 1 | Miscellaneous expenses such as postage fees, long-distance phone charges, express mail, and other incidental expenses |
| Row 5 - Cell 0 | Row 5 - Cell 1 | Row 5 - Cell 2 |
| Lost time | up to three (3) hours at a rate of $25.00 per hour | for time spent mitigating losses |
| Row 7 - Cell 0 | Row 7 - Cell 1 | Row 7 - Cell 2 |
| Transaction losses | Row 8 - Cell 1 | unauthorized or fraudulent transactions |
How to get more information
If you have any questions or want more information, you call the Settlement Administrator at 1-866-615-9740, write to the Settlement Administrator via mail to Cash App Security Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103 or via email to info@cashappsecuritysettlement.com.
A final approval hearing is scheduled on Dec. 16, 2024 at 9:30 am PT. You can check the settlement website here and the Court’s docket for updates.
You may exclude yourself from the settlement by mailing a written notice to the Settlement Administrator, postmarked on or before Nov. 1, 2024
Related Content
-
Should You Buy Gold as It Tops $4,000? Here's What the Experts SayRate cuts, a weak dollar and macro uncertainty have helped create a "perfect storm" for gold this year. Should investors add exposure or is it too late to buy?
-
Another IRS 1099-K Threshold Change to Know for Your 2025 TaxesTax Law After years of uncertainty and changing requirements, the 1099-K reporting rules for 2025 are now set, and the thresholds have changed since last year.
-
I Want to Retire, but I Have to Keep Working so My Adult Kids Have InsuranceIt's a tricky period when your adult child is under 26 but needs health insurance. We ask financial experts for advice.
-
Don't Let Your Equity Compensation Trip You Up: A Financial Expert's GuideStock options, RSUs and other executive perks can come with some serious strings attached. To avoid a nasty tax surprise, you need a plan.
-
I Work From Home, and These Are the Best Home Office Upgrades From October Prime Day and Anti-Prime Day SalesSpruce up your office for less with these sales. You could also qualify for tax credits with some upgrades.
-
Should You Replace Your Financial Adviser with AI?Financial Help Many people already ask AI for financial advice. But is it good enough to replace a human financial adviser?
-
Savvy Savings Moves to Make Now – Or You Could Lose ThousandsDespite a rate cut and inflation, these moves can still help you reach your savings goals quickly.
-
Escaping the New Golden Handcuffs: A Financial Expert Has a Plan for Today's ExecutivesFeeling stuck in your job? It could be your complicated compensation package, but it also could be where you live, your family or even how you view yourself.
-
A Comfortable Retirement is About More Than MoneyWhen it comes to a happy retirement, money can’t buy these things.
-
Four Ways a Massive Emergency Fund Can Hurt You More Than It HelpsSaving too much could mean you're missing opportunities to put your money to work. Redirect some of that money toward paying off debt, building retirement funds, fulfilling a dream or investing in higher-growth options.
